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The Swiss B2B bank InCore is launching a new tokenization tool with Tezos

The digital asset company Crypto Finance AG, supported by Deutsche Börse, and the Swiss business-to-business transaction bank InCore are launching a new tokenization tool based on the Tezos blockchain.

On Tuesday, InCore Bank officially announced a new collaboration with Crypto Finance AG and the Swiss IT consultancy Inacta to introduce new digital financial products based on Tezos, a decentralized open source proof-of-stake blockchain network .

The companies involved have developed a new Tezos token standard for asset tokenization based on the Tezos FA2 standard, a multi-asset interface for Tezos that enables developers to invent token types such as non-fungible tokens .

Using the Tezos FA2, Inacta has developed the new DAR-1 token standard, which aims to unlock new smart contract-enabled functions to support the financial markets, including anti-money laundering and asset management mechanisms.

In conjunction with the tokenization tool, InCore Bank also announced the upcoming launch of institutional storage, staking and trading services for Tezos (XTZ). With InCore Bank’s integrated services, financial institutions can offer staking for their customers’ wealth so that by blocking XTZ tokens they can earn rewards generated through staking or take part in transaction validation.

Related: Fintech company Leonteq expands crypto offering in Europe

Stijn Vander Straeten, CEO of Storage Infrastructure at Crypto Finance Group, said the new collaboration is an example of how FA2 on Tezos significantly expands the possibilities of tokenization. “The introduction of these Tezos financial use cases is making innovative, compliant on-chain financial products a reality today,” added the executive.

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